Is your HBP repayment amount included/part of your rrsp deduction limit?

I have to repay withdrawal for my HBP repayment when I repay is that amount part of my RRSP deduction limit? (I.e. max amount to contribute to rrsp is 25,000, I have to repay 1000 for HBP, does that mean I can still contribute the 25,000 to my rrsp and an additional 1000 to my HBP)?

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1 Best answer

Level 13

Oct 30, 2019 2:10:52 PM

Your Home Buyers Plan repayment amount is not deducted from your RRSP contribution limit. You can make your Home Buyers repayment and still contribute the full amount to your RRSP's.

Level 13

Oct 30, 2019 2:10:52 PM

Your Home Buyers Plan repayment amount is not deducted from your RRSP contribution limit. You can make your Home Buyers repayment and still contribute the full amount to your RRSP's.

New Member

Feb 26, 2023 1:59:42 PM

You didn't actually answer the question. Is it $26,000 total, or $25,000?

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Is your HBP repayment amount included/part of your rrsp deduction limit?